Great Hill Partners, a Boston, MA-based growth-oriented private equity firm, closed its seventh fund, at $2.5 billion.
Launched in February, Great Hill Equity Partners VII, L.P., was oversubscribed and surpassed its $2.0 billion target after five months in the market. Commitments were secured from a broad mix of U.S. and international investors including public and private pensions, sovereign wealth funds, endowments and foundations, insurance companies, healthcare systems, institutional fund managers, family offices, and high net worth individuals.
Led by Managing Partners Christopher Gaffney, Michael Kumin, Mark Taber, and Matthew Vettel, Great Hill Partners finances the expansion, recapitalization, or acquisition of growth companies in a wide range of sectors in business-to-business and business-to-consumer industries including software, financial and healthcare technology, digital media, eCommerce, and internet infrastructure.
The firm targets investments of $40m to $250m.
Since its inception in 1998, Great Hill Partners has raised $7.7 billion. Its previous fund, Fund VI, closed on $1.5 billion of LP commitments in 2017.
The firm has completed several successful exits over the last twelve months, including the sales of PlanSource, ChromeRiver, ZoomInfo, Ascenty, and The Shade Store.